De Waterkant offers one of the most sought-after areas for short term property investment in Cape Town. With its central location between the CBD and V&A Waterfront, the area has become a haven for leisure and business travellers alike. The area lies alongside the famous Bo Kaap, also known as the Malay Quarter. Home to a number of high-end apartments and cottages, along with plenty of restaurants, bars, shops and galleries, this area offers plenty of opportunity for savvy investors.
What makes De Waterkant good for short term property investment, and what else do you need to know about the area? Let’s have a look…
Why Consider Short Term Property Investment in De Waterkant
It may seem a bit strange, but De Waterkant literally means ‘the waterfront’ in Afrikaans. As you will soon see upon visiting, the term is something of a mystery, as it does not lie on or even close to the water. The reason for this is surprising. Many years ago, much of the CBD was under water. The development of the Foreshore lead to a large portion of what was then a working harbour to be paved over. This causes the water’s edge to move closer to today’s Waterfront and further from the city. De Waterkant Road runs all the way from the Foreshore up to the slopes of Table Mountain. The suburb of De Waterkant is accessed from this road, as well as Somerset Road. The suburb lies between the Bo Kaap and Green Point, and shares much of the Bo Kaap’s charm.
Some interesting things to note about De Waterkant from a short term property investment point of view include the following:
- De Waterkant is central and convenient. Its proximity to the City Centre, Green Point and the V&A Waterfront have made it popular with leisure travellers as well as business travellers. It is within walking distance to many restaurants and shops, with a village like atmosphere that has made it even more popular. Somerset Road connects the suburb to the CBD, while other major roads include Strand Street. Smaller roads are dotted with cottages, which, while not quite as brightly hued as the Bo Kaap, are none the less charming.
- The village culture has made Waterkant a prime residential and accommodation area. Within the village, there are many restaurants, bars, sidewalk cafes and shops. There are also off-beat art galleries and yoga studios. From its vantage point on the slopes of Table Mountain, the area has a sheltered environment that further adds to its appeal. Despite being part of the City Bowl, De Waterkant has the charm of a village, with plenty of peace and quiet.
- Property is diverse. Apartments are an excellent choice for those with a lower budget for purchase, while cottages are also accessible to some degree. Apartments have the added benefit of lower upkeep, with many high-end complexes found here, such as the popular Harbouredge Suites and Rockwell Suites complexes managed by Totalstay.
- The area is prime for growth. One major development that has helped shape the area is the Cape Quarter shopping centre. This centre has helped establish De Waterkant’s reputation for holistic, tranquil living. It is home to a number of shops, along with a small supermarket, restaurants and cafes. Many outdated buildings are being transformed into multi-unit complexes and aparthotels, further helping the area transform into a holiday mecca.
- De Waterkant is generally safe and accessible. Many restaurants, shops and galleries are in walking distance and can be explored by foot. After the 2010 FIFA Soccer World Cup, a fan walk was built on Somerset Road, linking Green Point to the CBD. This offers a safe, simple way to walk between De Waterkant and the Inner City, making it easy for tourists to explore the city by foot.
Do you have a property in De Waterkant? Totalstay provides world-class management solutions for short term property investment. From active marketing to day to day management, reservations management, concierge and so much more, we handle all aspects of the management process. To arrange an evaluation or learn more, simply contact us today.